Bitpay card

[ibetyouadollar]

question,i have the bitpay card also and i did a payout a few weeks ago and the fees where high.so high it wasnt really worth using the bitpay card to cashout.Are the fees still high?thanks in advance.

[ibetyouadollar]

are the fees still high to exchange btc to usd on the bitpay card?

[Optional]

The fees have not changed as far as I know and they aren't high.

You are probably talking about miner fees that come with any send at a guess?

What size fee are you thinking is high?

[littlekona]

The processing fee has dropped today i loaded 500$ for 510$ which include the miners fee high priority send through mycelium so thats good news and I think with network congestion relief it goes lower

[mrpapageorgio]

The processing fee has dropped today i loaded 500$ for 510$ which include the miners fee high priority send through mycelium so thats good news and I think with network congestion relief it goes lower

https://bitcoinfees.earn.com/

Of the roughly 30k transactions, about 27k of them have a fee attached of 10 sat/b or less attached to them, so as long as you don't have that low of fee attached right now, you'll get confirmed rather quickly.

The mempool is down to around 3MB, so you should have no issues tonight if trying to send with a reasonable fee.

[ibetyouadollar]

basically what im saying is,i had tried to load $50 to my bitpay card a few weeks ago,and i couldnt because of the fees.

[ibetyouadollar]

thank you ,i guess you are the only one here that understood my question lol

[Pinoy-T-X]

What is the approx fees including miner fees withdrawing 1k from book to blockchain to bitpay wallet to card? Tia.

[TheMoneyShot]

It's slightly amusing people bitching about $10.00 to load a card....

If you guys can't figure out 3 positive reasons in which this card benefits you...

You shouldn't be wagering.


Would you rather have a chk each time? Have fun cashing it.

[Roscoe_Word]

What is the approx fees including miner fees withdrawing 1k from book to blockchain to bitpay wallet to card? Tia.

I recently went from Book > Blockchain > Exchange > Bank, and the whole journey cost only 8%. My guess is that inserting the bitpay wallet and bitpay card into the itinerary would increase that cost to about 15%. (That's just my speculation.)

There are some knowledgeable posters here who say the "transmission" costs will decline in the near future.

[mrpapageorgio]

I just spent $.40 to send a Bitcoin transaction today and it took 7 minutes to get confirmed.

[Pinoy-T-X]

I just spent $.40 to send a Bitcoin transaction today and it took 7 minutes to get confirmed.

Send from where to where?
i.e. book to coinbase?

[mrpapageorgio]

Send from where to where?
i.e. book to coinbase?

Personal wallet to Coinbase (non-book related). It took 7 minutes to get the first confirmation and about another 30 mins to get the other 5 that CB requires.

[Pinoy-T-X]

Personal wallet to Coinbase (non-book related). It took 7 minutes to get the first confirmation and about another 30 mins to get the other 5 that CB requires.

ah ok thanks.
i was just trying to figure out the fees, miners included, from book to block chain to bitpay wallet to card.
most of the people I’ve talked to said it’s about 10-15% , it used to be way lower than that. Like 2-3%

[PaperTrail07]

guys be careful....remember you need to load using SPECIFIC wallets now....

ah ok thanks.
i was just trying to figure out the fees, miners included, from book to block chain to bitpay wallet to card.
most of the people I’ve talked to said it’s about 10-15% , it used to be way lower than that. Like 2-3%

[PaperTrail07]

but biypay is still raping....sorry you were right...bitpay wallet to card...

[mrpapageorgio]

ah ok thanks.
i was just trying to figure out the fees, miners included, from book to block chain to bitpay wallet to card.
most of the people I’ve talked to said it’s about 10-15% , it used to be way lower than that. Like 2-3%

I think the issue is a lot of the apps are overestimating the fees with the recent backlog (my wallet wanted to set a $5 fee which would've been reasonable a month ago). It has since cleared considerably and can now be sent for relatively cheap, but you have to know how to customize the fees or could overpay or underpay (and get your transaction stuck), which is why I use https://bitcoinfees.earn.com/ to get a good idea what fee to use.

[Pinoy-T-X]

guys be careful....remember you need to load using SPECIFIC wallets now....

What do you mean? Sorry I’m not tech savvy.

[PaperTrail07]

they have a list of wallets that follow their BITPAY PAYMENT protocol....so you cant load from any random wallet...most have not opened a bitpay wallet as its obviously approved...

What do you mean? Sorry I’m not tech savvy.

[craigpb]

they have a list of wallets that follow their BITPAY PAYMENT protocol....so you cant load from any random wallet...most have not opened a bitpay wallet as its obviously approved...

You can use the decoder to bypass their stupid payment protocol if you have a wallet elsewhere. Spits out the address correctly.
And yes the miner's fee is currently back down to pennies.

[Optional]

ah ok thanks.
i was just trying to figure out the fees, miners included, from book to block chain to bitpay wallet to card.
most of the people I’ve talked to said it’s about 10-15% , it used to be way lower than that. Like 2-3%

The only fee that has been added to a Bitpay load since this thread started is a small sweep fee. It hasn't gone up by any noticeable amount.

Its not helpful to quote fees in percentage as 10% of 10 bucks is 1 dollar.

But in general terms no one has to pay a 10% fee or anywhere near that.

And it is not company related. Its not to do with the book, blockchain.info, Coinbase, Bitpay or anyone else but the network load at that moment of the send and the fee level you choose yourself.


Just a couple of quick tips that have been repeated over and again in this thread.

Don't use the BitPay wallet.

Don't send to blockchain.info from your book if you want to load those funds onto a bitpay card.

You need to either download the Electrum.org desktop wallet or the Mycellium phone app which conform to the Payment Protocol standard that Papertrail is referring to.

When loading the card, withdraw from your book to Electrum. Then request a card load and paste the link Bitpay give you into the send field of your wallet.

There will be a miner fee of just a dollar or so today. Your fee "percentage" will be near nothing for a few hundred sent.

[PaperTrail07]

Thanks for the info

You can use the decoder to bypass their stupid payment protocol if you have a wallet elsewhere. Spits out the address correctly.
And yes the miner's fee is currently back down to pennies.

[Pinoy-T-X]

Don't use the BitPay wallet.

Don't send to blockchain.info from your book if you want to load those funds onto a bitpay card.

You need to either download the Electrum.org desktop wallet or the Mycellium phone app which conform to the Payment Protocol standard that Papertrail is referring to.

thanks for your response, I have a couple of questions.

Whats wrong with using bitpay wallet?
And why should I not use blockchain to bitpay?
I used it a few months ago, did something change?

[Optional]

thanks for your response, I have a couple of questions.

Whats wrong with using bitpay wallet?
And why should I not use blockchain to bitpay?
I used it a few months ago, did something change?

People repeatedly complain about high "fees" using it. Not sure exactly why but maybe they set too high miner fees or something in there is confusing. Whatever it is, too many people complain about it. Plus, you don't need to use it to load the card and it is no use as an intermediary wallet as it is attached to a US licensed business. You don't need it for any good reason so i would just avoid it.

Question 3, yes something changed.

Question 2, blockchain does not support the Payment Protocol standard that Bitpay wants users to use now. Electrum or Mycellium are known/tested options that are suitable as a total replacement for your blockchain.info/wallet if you wish. (or just a secondary wallet you only use when loading Bitpay card)


As someone mentioned above, you can decode the Payment Protocol link Bitpay give you to load the card now. So you can actually send from blockchain wallet still. But Bitpay will not get the additonal tracking info Payment Protocol give them, or the extra security it gives them against double spends in times of netwrok delays... which lets them credit people faster. Also if you get it wring at all sending from Blockchain, it may not be simple to get fixed. Their terms say up to 21 days.



Hope that helps.

[Pinoy-T-X]

Thanks for the explanation, Optional. Greatly appreciated.

so the new way to do it is
book > electrum > bitpay card?
no other wallets involved in between ?

[Optional]

Thanks for the explanation, Optional. Greatly appreciated.

so the new way to do it is
book > electrum > bitpay card?
no other wallets involved in between ?

Correct

[Optional]

Also, not to complicate things, but you can actually just use the 12 word seed phrase to re-create your current blockchain wallet in Electrum. Just like having a second interface to the same coins.

Let me know if you need me to find an old post with step by step instructions to do that.

[Pinoy-T-X]

Also, not to complicate things, but you can actually just use the 12 word seed phrase to re-create your current blockchain wallet in Electrum. Just like having a second interface to the same coins.

Let me know if you need me to find an old post with step by step instructions to do that.

That’ll be great if you could do that. So the reason I have to use Electrum in between versus book to bitpay wallet is they might flag my account?

[Pinoy-T-X]

Also, I was wondering what happened that bitpay won’t accept blockchain anymore.

[Bsims]

Thanks for the explanation, Optional. Greatly appreciated.

so the new way to do it is
book > electrum > bitpay card?
no other wallets involved in between ?

Recently I moved $2,000 from 5Dimes to Electrum then to Bitpay. I ended up paying 0.001818 in BTC fees (about $21) and really never experienced any unusual delays.

[littlekona]

It’s back down to old fees levels almost today I sent one with 15 sat fee miners and .000325 was the bitpay load network fee so cost me under 5$ for 800... very hAppy .....I can move now with fees under 20 sat and get confirmation under 1 hour

[Optional]

That’ll be great if you could do that. So the reason I have to use Electrum in between versus book to bitpay wallet is they might flag my account?

I have not heard of anyone being called out for it by Bitpay yet, but like COinbase their terms under US law say they should not transfer money for gambling, so it's better to try and work with them and not send direct from gambling sites to their wallet. Same as we do with Coinbase.

You can do it if you want, but I can't see any reason too. It's no more convenient, faster or cheaper than using your own independent wallet.

Honestly I am not sure why anyone wants to use a wallet they dont control, but so many keep wanting to like you.

[Optional]

That’ll be great if you could do that.

Here's the step by step to import your Blockchain.info wallet into Electrum

If you do not have the 12 word seed phrase written down already, log into Blockchian.info wallet and go to security and choose Backup Private Key and it will give it to you. (keep it written down somewhere in future. Its the insurance to always be able to get any lost wallet back)


Download the Electrum wallet from here: http://www.electrum.org/

Run the Electrum software and it will ask you to create a new wallet.

1) type in a name or leave it as default_wallet and click next
2) select Standard Wallet and click next
3) select "I already have a seed" and click next
4) enter the 12 word seed phrase from your old blockchain wallet in the box then click OPTIONS.
5) tick the box that says "Bip39 Seed" and click ok. Then click next
6) leave Derivation box as is and click Next
7) You can choose a password to encrypt the wallet (that you have to enter each time you open it) or leave fields blank for no password to open wallet. Then click next.


You should now see the wallet generate itself and sync with the sane data in your old blockchain wallet and all your transactions will appear.

Then you can use either one as you like.

[Pinoy-T-X]

Thank you for all you do, Optional.

[ibetyouadollar]

so if i want to load $50 on my bitpay card,how much do you think it would cost me?how much would i need to have?around 60$???